Obama Warns Republicans on Refusal to Raise Debt Ceiling

[InTheLight]

It is nonsense to say the US will default on their debts. There is plenty of money available coming in each month in taxes to pay the interest. As long as the interest is paid there is no default.

This is true, mostly. The U.S. would not "default" on existing debts so long as they pay the interest. However, there are spending bills that have already passed Congress and have ongoing expenses. If the debt ceiling is not raised the U.S. cannot finance those already incurred obligations. So if you think it is a good idea to withhold, say, veteran's benefits (along with hundreds of other programs), then go ahead and don't approve the debt ceiling extension.

 

[mont974x4]

It's really despicable that Obama, and his water carriers, use the veterans benefits argument to support their position. If they had any scruples they would be cutting spending on useless things and avoid the emotionalism. No one with any sense believes that a bill to cut spending won't be laden with pork for countless pet projects to continue.

No wonder our country is in the moral toilet.

 

[InTheLight]

It's really despicable that Obama, and his water carriers, use the veterans benefits argument to support their position.

I am not a water carrier for Obama. I rarely agree with him. In this instance though, the Republicans are wrong. The time to cut spending was months and years ago. It's only because they don't have a spine that they've got to resort to a gimmick like using the debt ceiling as a bargaining chip to attempt to finally do their job.

When Republicans regained the House in 2010, running mostly on cutting spending and reversing ObamaCare (Tea Party favorite issues) why didn't they follow through on their promises?

 

[mont974x4]

Cutting spending should have been done years ago. We were yelling about that then. We need to keep demanding that it happens.

If your tub overflows because someone did not turn it off at the proper time you have a mess. When you show up to clean it up you still turn off the water. To not do so is insane.

All that does not excuse the despicable act of holding veterans hostage or using them in this horribly dishonest political ploy.

 

[Revmitchell]

The time to cut spending was months and years ago.

I am curious, if it was time then and no one did it, and the debt has only increased then why is it not time now?

 

[OldRegular]

This is true, mostly. The U.S. would not "default" on existing debts so long as they pay the interest. However, there are spending bills that have already passed Congress and have ongoing expenses. If the debt ceiling is not raised the U.S. cannot finance those already incurred obligations. So if you think it is a good idea to withhold, say, veteran's benefits (along with hundreds of other programs), then go ahead and don't approve the debt ceiling extension.

There is adequate tax money coming in, about $2.5 trillion per year, to pay the military and military retirees as well as most Social Security and Medicare so stay cool!

 

[OldRegular]

I am not a water carrier for Obama. I rarely agree with him. In this instance though, the Republicans are wrong. The time to cut spending was months and years ago. It's only because they don't have a spine that they've got to resort to a gimmick like using the debt ceiling as a bargaining chip to attempt to finally do their job.

When Republicans regained the House in 2010, running mostly on cutting spending and reversing ObamaCare (Tea Party favorite issues) why didn't they follow through on their promises?

The Federal Debt has increased by 60% during the first Obama term and he is just getting started. Furthermore the cost of Obamacare in both taxes and expenditures is just getting started. So Obama's purpose of spending the country into oblivion is proceeding quite well.

 

[poncho]

Ben Bernanke says the debt ceiling should be done away with. It's just a needless hindrance to those who wish to steal all our wealth.